OUTFRONT Media (NYSE:OUT) Shares Gap Down Following Weak Earnings

OUTFRONT Media Inc. (NYSE:OUT)’s stock price gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $32.00, but opened at $28.62. OUTFRONT Media shares last traded at $29.5940, with a volume of 256,435 shares traded.

The financial services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). The business had revenue of $511.10 million for the quarter, compared to the consensus estimate of $509.74 million. OUTFRONT Media had a net margin of 12.66% and a return on equity of 37.44%.

OUTFRONT Media Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 4th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $1.32 annualized dividend and a dividend yield of 4.5%. OUTFRONT Media’s dividend payout ratio is presently 94.96%.

Analysts Set New Price Targets

A number of brokerages have recently commented on OUT. Citigroup reissued a “buy” rating on shares of OUTFRONT Media in a report on Tuesday, September 8th. Wall Street Zen downgraded shares of OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. Wells Fargo & Company increased their target price on shares of OUTFRONT Media from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. TD Cowen reissued a “buy” rating and set a $40.00 target price (up from $38.00) on shares of OUTFRONT Media in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. began coverage on shares of OUTFRONT Media in a research note on Wednesday, July 22nd. They set an “overweight” rating and a $38.00 target price on the stock. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Insiders Place Their Bets

In related news, EVP Mark Emilio Bonanni sold 3,385 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $29.82, for a total transaction of $100,940.70. Following the completion of the transaction, the executive vice president owned 10,420 shares of the company’s stock, valued at $310,724.40. This trade represents a 24.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Matthew Siegel sold 25,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $27.84, for a total value of $696,000.00. Following the transaction, the executive vice president directly owned 264,925 shares of the company’s stock, valued at $7,375,512. This represents a 8.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.45% of the stock is currently owned by insiders.

Institutional Investors Weigh In On OUTFRONT Media

Hedge funds and other institutional investors have recently bought and sold shares of the business. Trust Co. of Vermont bought a new position in shares of OUTFRONT Media during the 2nd quarter valued at about $34,000. EverSource Wealth Advisors LLC grew its stake in shares of OUTFRONT Media by 74.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,610 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 686 shares during the last quarter. TOP Private Wealth LLC. acquired a new position in shares of OUTFRONT Media in the 2nd quarter worth approximately $72,000. Nykredit A S acquired a new position in shares of OUTFRONT Media in the 2nd quarter worth approximately $84,000. Finally, CENTRAL TRUST Co grew its stake in shares of OUTFRONT Media by 164.9% in the 3rd quarter. CENTRAL TRUST Co now owns 2,752 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 1,713 shares during the last quarter.

OUTFRONT Media Price Performance

The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 3.50. The business’s fifty day moving average is $29.66 and its 200 day moving average is $29.67. The firm has a market capitalization of $5.12 billion, a P/E ratio of 20.90 and a beta of 1.56.

OUTFRONT Media Company Profile

OUTFRONT Media Inc (NYSE: OUT) is an out-of-home media company that provides advertising services through a portfolio of billboard, transit and other outdoor advertising assets. The company helps advertisers reach consumers in high-traffic locations, including roads, urban centers, public transportation systems and other public spaces.

Its offerings include traditional printed billboards, digital billboards, transit displays and place-based media. OUTFRONT also provides related services such as media planning, creative support, audience analytics and technology-enabled advertising solutions, including digital and programmatic buying capabilities.

OUTFRONT primarily serves advertisers across the United States and Canada.